this post was submitted on 27 Feb 2024
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I'm sorry. :(
If you're still young, may I suggest opening up a 401K account, especially if your employer offers to match your contributions. I know everybody's situation is different, but I can tell you that 401Ks, an IRA, and being frugal are what has made building a home a possibility for me and my husband.
By being frugal, I don't mean starving yourself and never enjoying anything, but cut out non-essential spending. You don't need to upgrade your phone, your computer, or your car every time. Pay that shit off. You also don't need to subscribe to every single streaming service. Pick one and watch the shit out of their content, then cancel and switch to another. Usually you even get a free trial to start.
Again, I'm not saying this will work for everyone, and I know life is never that simple, but these things really helped me and my husband save up over the decades.
I'm actually in my 30s, but thanks for the concern. I do appreciate it.
I actually do have a IRA, and I don't get a 401K through my workplace, and also I'm extremely frugal.
I had my last phone for 5–6 years; I only replace my phone when it finally refuses to work. I don't have the money to buy new ones even if I wanted to. I also have a $1000 car because I couldn't afford anything else.
Oh, I don't bother with those. I sail the high seas instead. ;)
I appreciate your thoughts, but honestly, my problem isn't so much that I'm not frugal, but rather I just don't get paid a living wage. I'm lucky if I make $350 a week. That coupled with the fact that things are just so damned expensive now means I barely have enough to buy food, let alone other necessities like new clothes when current ones wear down.
Trust me, I know how to manage money. I'm just fucked, as is most people my age.
I knew I would get hate even for just trying to help. Not saying it was from you, but clearly from the downvotes I've upset some people. But I felt it was better to throw it out there, in case it does help someone.
I'm sorry the world you're inheriting sucks. It's still better IMO today than in the past, and better in the US than other places. But I'm an immigrant from a developing country, became a citizen 5 years ago, so that definitely colors my perspective.
Thank you again for the suggestion.
It was not from me, I assure you. The advice may not have been entirely relevant to me, but I did appreciate it. :)
I am grateful to you for saying that.
That really depends in what way one is referring to, as well as in what country/region.
That actually depends on the country: better than a lot of developing countries? Most certainly. But there are a lot of developed countries with far higher indexes for freedom, (lack of) child mortality, civil rights, education & literacy, and economic prosperity. America actually ranks pretty damn low for all of those values.
I can certainly see how that would affect one's perspective. If your life is better, I'm happy for you!
lol - now do the not still young version!? 😉
Have luck on your side. Lucky is what my husband and I both feel a lot of times. We are both pretty cautious when it comes to spending, but we also recognize that we've dodged some financial bullets just by sheer luck.
Hehe congratulations. I’m privileged to be in a similar position with my wife 😁
But not many days go by I don’t think about how lucky/fortunate we are.